Need advise asap. My elderly mother has sold the family home from under our feet. Myself my daughter & my elderly mother live in the home she has sold & signed of & cooling period is over I hv only just been told this as my mother is crying& was at no sound mind for any business taking advantage of the situation & proceeded in purchasing a house which should of never happened. Cooling period is over on the property also. Wot can I do to stop this happening please help
Is your mother the sole owner of the house? If so, she is generally allowed to sell it.
Unless, your mother had a diagnosis of dementia, and a doctor can state that she is not competent to make major decisions. Does she have such a diagnosis? Do you have something in writing? Has she given your or anyone else her Power of Attorney?
Did your mother go to a closing at a title office or attorney's office? Or did she just sign a contract? If she has only signed the contract, but not done the closing documents to actually turn the house over, with the deed registered at the courthouse or city/county office, then she can still cancel.
How much did she sell the house for? Even if she did sell the house, you won't be out on the streets, because you'll have the money from the sale. Is the sale price the market value? (You can check the value at zillow.com, it's usually pretty accurate.)
Being elderly does not mean that even if you think she is not of sound mind.
If she sold it she was the rightful owner? Did she sell it at FMV?
That's wot I need answers to ,coz the house I live in has been sold by my mother whom is at no fit state of mind to be doing this. We will be living on the streets. Surely the business man whom brought the property could see my elderly mother was at no sound mind to be dealing with or didn't he care he just took advantage of my mother & threw whole situation
Can u advise me on a Pacific atty
I'm in Adelaide
See a real estate attorney for advice. Good luck.